Member Article

UK unemployment falls to 1.86 million

Unemployment has continued to fall in Britain, with the number out of work in the UK falling by 97,000 to 1.86 million in the three months to December.

The unemployment rate now stands at 5.7% of the working population, the Office for National Statistics said.

The ONS also said total pay was 2.4% higher in December compared with the same month in 2013 - the biggest lead over inflation since March 2010.

CPI inflation was 0.5% in December, and new data released on Tuesday showed the rate fell to 0.3% in January, its lowest level since records began.

John Cridland, CBI director-general, said: “The recovery is now established and businesses are continuing to create more full time jobs.

“While it’s good to see unemployment falling we still need to see more young people finding roles, especially those that help them develop their skills and progress up the earnings ladder.

“Pay growth is now well ahead of inflation, and a focus on improving productivity from businesses will help keep this on track.”

Stephen Timms MP, Labour’s Shadow Employment Minister, said: “Today’s fall in overall unemployment is welcome but five years of the Tories’ failing plan has left working people £1,600 a year worse off since 2010. Low pay has left millions of working families struggling to make ends meet and has led to billions more spent on the housing benefit bill.

“Today’s rise in youth unemployment is extremely worrying and shows the Tory plan is failing the next generation.

This was posted in Bdaily's Members' News section by Clare Burnett .